Service Contract Management for your business 101

One of the most important aspects of a successful business is going to be your repeat customers. You want your customers and clients to rely on you solely, for the services that you provide. This is why offering service contracts are so critical to making your business successful.

Now imagine that you do not have a suitable service contract management system in place and you are losing the customers, simply because you are not following up when it comes time to renew their contracts. These customers are being scooped up by the competition that has their sales people out just waiting for the opportunity to take your clients, which in turn means they are taking your business.

It may be possible that you are keeping those clients, but you are wasting a lot of money by paying sales people of your own, who are selling to customers that simply have an expired service contract, and if you had caught it in time, your sales people would be out focusing on new clients. If this were the case, you would have, in theory, at least twice as many contracts – Translating into a sustainable recurring business.

What you need is a service contract management system to help you manage all of your service contracts. Your business needs to be sure that it has all of the pertinent information for each and every customer’s contract at hand, when you need it. Better yet, you need a service contract management system that will inform you when one of the contracts needs your attention 30, 60, and 90 days out.

Perhaps that contract is due for a service visit in the next month. You may possibly need to inform that customer of a rate change when it is renewed in 30 or 60 days. This customer in particular may have an outdated asset, and that will give you the opportunity to sell that end-user an upgrade to the newest version they may not have even known about. If you have a service contract management system in place, you will never have to worry about these types of concerns again. Everything will be taken care of, all you have to do at that point, is sit back, and enjoy the automated notifications.

For more information on Service Contract Management, be sure to visit Managed Maintenance and check out ONEview!

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